Ant Financial Reportedly Raising $3.5B Mega-Round by PitchBook
Ant Financial is reportedly in the midst of raising a $3.5 billion round of funding led by China Investment Corp., the country’s sovereign wealth fund, and China Construction Bank Corp. The company, which will be valued at a reported $60 billion with the investment, is said to have more than 400 million annual active users across its financial products, which include online payment platform Alipay, credit scoring service Sesame Credit and money market fund Yu’e Bao.
If completed, this would be the third $3 billion+ investment in a Chinese company in the past seven months. At the beginning of the year, group buying website Meituan-Dianping secured a $3.3 billion fundraise at an eye-popping $18 billion valuation, and prior to that, Didi Kuaidi—often referred to as the Uber of China—raised a $3 billion round at a valuation of $16.5 billion.
